Kirkland’s Home’s net sales decline amid store closures

(Source: Kirkland's Home / Facebook)

Kirkland’s Home booked lower net sales last fiscal year due to a decrease in same-store sales and the impact of store closures.

Net sales decreased 6 per cent to $468.7 million amid lower traffic and a decrease in average ticket.

However, net loss improved 37.9 per cent to $27.8 million while earnings before interest, taxes, depreciation, and amortization plunged 56.3 per cent to $27.8 million.

The company ended the year with 330 stores after closing 16 and relocating one.

“E-commerce traffic has been challenging in comparison to stores to start the year, and we are adjusting our promotional and marketing plans as well as making technical enhancements to support profitable sales growth online,” Kirkland’s Home CEO Amy Sullivan said.

“We remain vigilant in managing our expenses, both operating and capital, as top line and margin improvements continue to take hold.”

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